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        <name>N/A</name>
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      </invstOrSec>
      <invstOrSec>
        <name>AGNC INVESTMENT CORP</name>
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          <isin value="US00123Q8318"/>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AGNC INVESTMENT CORP</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>AGNC Investment Corp</title>
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      <invstOrSec>
        <name>Alliant Energy Corp</name>
        <lei>5493009ML300G373MZ12</lei>
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          <isin value="US0188021085"/>
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      <invstOrSec>
        <name>Amazon.com Inc</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com Inc</title>
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          <isin value="US0231351067"/>
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        <valUSD>5089350.000000000000</valUSD>
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      <invstOrSec>
        <name>Apollo Global Management Inc</name>
        <lei>254900LMFT1CY9IYB476</lei>
        <title>Apollo Global Management Inc</title>
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          <ticker value="APO"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>APOLLO GLOBAL MANAGEMENT</name>
        <lei>254900LMFT1CY9IYB476</lei>
        <title>Apollo Global Management Inc</title>
        <cusip>03769M304</cusip>
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          <isin value="US03769M3043"/>
          <ticker value="APO"/>
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        <curCd>USD</curCd>
        <valUSD>252270.000000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ADAMAS TRUST INC</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>Adamas Trust Inc</title>
        <cusip>649604881</cusip>
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          <isin value="US6496048819"/>
          <ticker value="ADAM"/>
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        <balance>78928.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1797979.840000000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Freeport-McMoRan Inc</title>
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          <ticker value="FCX 2 P62"/>
          <other otherDesc="BBGID" value="BBG01ZGL5J91"/>
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        <balance>-10.000000000000</balance>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>NYSEAmerican</counterpartyName>
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            <putOrCall>Put</putOrCall>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
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          <ticker value="FCX 3 P62"/>
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            <putOrCall>Put</putOrCall>
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        <securityLending>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="FCX 3 P62"/>
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      <invstOrSec>
        <name>N/A</name>
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          <ticker value="FCX 3 C60"/>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="FCX 3 C70"/>
          <other otherDesc="BBGID" value="BBG0201CM5S3"/>
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        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="BBGID" value="BBG01TZ6QQ16"/>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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        <name>Zions Bancorp NA</name>
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        <name>Fifth Third Bancorp</name>
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        <name>N/A</name>
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        <name>AT&amp;T Inc</name>
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        <name>BABCOCK &amp; WILCOX ENTERPR</name>
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        <name>N/A</name>
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          <ticker value="CCI 7 C95"/>
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        <name>N/A</name>
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        <name>Blackstone Inc</name>
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        <name>Coterra Energy Inc</name>
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        <name>Chevron Corp</name>
        <lei>N/A</lei>
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        <name>NextEra Energy Inc</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>Northwest Natural Holding Co</name>
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        <name>NVIDIA Corp</name>
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        <name>Cisco Systems Inc</name>
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        <title>Cisco Systems Inc</title>
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      <invstOrSec>
        <name>Citizens Financial Group Inc</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>PG&amp;E CORP</name>
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        <name>PENNYMAC MTGE INVESTMENT</name>
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        <name>PepsiCo Inc</name>
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        <name>Philip Morris International In</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
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        <name>N/A</name>
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        <name>COREBRIDGE FINANCIAL INC</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>Corebridge Financial Inc</title>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Coca-Cola Co/The</title>
        <cusip>N/A</cusip>
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          <ticker value="KO 6 C75"/>
          <other otherDesc="BBGID" value="BBG01RNHS6F6"/>
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        <curCd>USD</curCd>
        <valUSD>-39850.000000000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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              <counterpartyName>NYSEAmerican</counterpartyName>
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            <writtenOrPur>Written</writtenOrPur>
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            <unrealizedAppr>-35344.920000000000</unrealizedAppr>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Coca-Cola Co/The</title>
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          <ticker value="KO 6 C77.5"/>
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        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
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              <counterpartyName>NYSEAmerican</counterpartyName>
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            <putOrCall>Call</putOrCall>
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            <unrealizedAppr>-5242.670000000000</unrealizedAppr>
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      <invstOrSec>
        <name>Crown Castle Inc</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle Inc</title>
        <cusip>22822V101</cusip>
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          <isin value="US22822V1017"/>
          <ticker value="CCI"/>
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        <balance>10565.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>945990.100000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DR Horton Inc</name>
        <lei>529900ZIUEYVSB8QDD25</lei>
        <title>DR Horton Inc</title>
        <cusip>23331A109</cusip>
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          <isin value="US23331A1097"/>
          <ticker value="DHI"/>
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        <balance>5037.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>807884.430000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Rexford Industrial Realty Inc</title>
        <cusip>N/A</cusip>
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          <ticker value="REXR 4 C45"/>
          <other otherDesc="BBGID" value="BBG01WQCLP40"/>
        </identifiers>
        <balance>-120.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-900.000000000000</valUSD>
        <pctVal>-0.0009594887</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>CHICAGO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Rexford Industrial Realty Inc</issuerName>
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                  <isin value="US76169C1009"/>
                  <ticker value="REXR"/>
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            </descRefInstrmnt>
            <shareNo>100.000000000000</shareNo>
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            <expDt>2026-04-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>3404.430000000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>RTX Corp</title>
        <cusip>N/A</cusip>
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          <ticker value="RTX 2 P192.5"/>
          <other otherDesc="BBGID" value="BBG0203PMJZ4"/>
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        <balance>-10.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-20.000000000000</valUSD>
        <pctVal>-0.0000213220</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>NYSEAmerican</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>RTX Corp</issuerName>
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                  <cusip value="75513E101"/>
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                  <ticker value="RTX"/>
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            <shareNo>100.000000000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>1012.980000000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Southern Co/The</title>
        <cusip>N/A</cusip>
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          <ticker value="SO 2 P93"/>
          <other otherDesc="BBGID" value="BBG01ZGZS700"/>
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        <balance>-70.000000000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>NYSEAmerican</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>Southern Co/The</issuerName>
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                  <cusip value="842587107"/>
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            <shareNo>100.000000000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>7790.830000000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <ticker value="SO 3 C92.5"/>
          <other otherDesc="BBGID" value="BBG01S13V4C3"/>
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        <balance>-70.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-40110.000000000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>NYSEAmerican</counterpartyName>
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            <putOrCall>Call</putOrCall>
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                <issuerName>Southern Co/The</issuerName>
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                  <cusip value="842587107"/>
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            <shareNo>100.000000000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-33646.200000000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Broadcom Inc</title>
        <cusip>N/A</cusip>
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          <ticker value="AVGO 6 C540"/>
          <other otherDesc="BBGID" value="BBG01Y6GW7V7"/>
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        <balance>-20.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3720.000000000000</valUSD>
        <pctVal>-0.0039658865</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>CHICAGO</counterpartyName>
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            <putOrCall>Call</putOrCall>
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                <issuerName>Broadcom Inc</issuerName>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Caterpillar Inc</title>
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          <other otherDesc="BBGID" value="BBG01ZGGHMJ1"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="CAT 2 P707.5"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="CAT 3 P685"/>
          <other otherDesc="BBGID" value="BBG01ZRSRDQ4"/>
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        <assetCat>DE</assetCat>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Chevron Corp</title>
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          <ticker value="CVX 2 P170"/>
          <other otherDesc="BBGID" value="BBG01ZGKJBS4"/>
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        <balance>-50.000000000000</balance>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <name>Digital Realty Trust Inc</name>
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      <invstOrSec>
        <name>DIVERSIFIED HEALTHCARE T</name>
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        <name>Edison International</name>
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      <invstOrSec>
        <name>Exxon Mobil Corp</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Meta Platforms Inc</name>
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      <invstOrSec>
        <name>MPLX LP</name>
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      <invstOrSec>
        <name>Microsoft Corp</name>
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        <name>RITHM CAPITAL CORP</name>
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        <title>Rithm Capital Corp</title>
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        <name>IBM</name>
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        <name>Johnson &amp; Johnson</name>
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        <name>KKR &amp; Co Inc</name>
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        <name>KKR &amp; CO INC</name>
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        <name>Realty Income Corp</name>
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        <name>REDWOOD TRUST INC</name>
        <lei>DRBV4N1ERQLEMIF11G78</lei>
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        <name>REDWOOD TRUST INC</name>
        <lei>DRBV4N1ERQLEMIF11G78</lei>
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        <name>Rexford Industrial Realty Inc</name>
        <lei>549300MSLO0DF0EMX355</lei>
        <title>Rexford Industrial Realty Inc</title>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <valUSD>-410.000000000000</valUSD>
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</edgarSubmission>
